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San francisco proprietary trading firms


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As defined in section 1a(18) of the Act, as further jointly defined or interpreted by themission and the Securities and Exchangemission or expanded by themission pursuant to section 1a(18)(C) of san francisco proprietary trading firms Act; or (ii) A producer, processor, ormercial user of, or a merchant handling themodity that is the subject of themodity option transaction, or the products or by-products thereof, and such offeror is offering or entering into themodity option transaction solely for purposes related to its business as such; (2) The offeree must be a producer, processor, ormercial user of, or a merchant handling themodity that is the subject of themodity option transaction, or the products or by-products thereof, and such offeree is offered or entering into themodity option transaction solely for purposes related to its business as such; and (3) Themodity option must be intended to be physically settled.

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